Greece ‘Anakainizo’ program deadline approaches for property renovations

The deadline for the ‘Anakainizo’ program, aimed at renovating closed properties in Greece, is set to expire at the end of August. Deputy Minister of National Economy and Finance Nikos Papathanasis stated that approximately 9,000 applications have been submitted by owners looking to utilize vacant properties.

The program offers subsidies covering up to 95% of renovation costs, with funding that can reach €36,000. Officials expect the total number of applications to reach 11,000 and anticipate an increase in the number of homes integrated into the program.

To encourage participation, the government has implemented significant changes to the terms. The minimum ownership requirement for full ownership or usufruct has been reduced from 50% to 20% for eligible closed properties. Additionally, the maximum electricity consumption limit for properties to be considered ‘unused’ has been increased to 100 kWh for the years 2024 and 2025, based on HEDNO data.